Active buying of high-technology related issues, including NEC and Matsushita Electric Industrial, toward the close offset selling in the construction sector that followed the failure of a medium-size Japanese company.

Tada Corp. became only the second listed Japanese general contractor to fail since World War II. The company said it could no longer cope with a drop in the value of its commercial properties.

Other Japanese construction companies also are suffering from huge non-performing debts, and many Japanese financial institutions are making efforts to write off bad loans.

In late afternoon, the dollar was changing hands at 117.74 yen, down 0.92 yen from late Wednesday in Tokyo and also below its late New York level of 118.57 yen. It ranged between 117.58 yen and 118.48 yen in today’s trading.

Over the five previous trading days in Tokyo, the dollar had gained a total of 3.24 yen.

Traders said the dollar fell below 118 yen early in the session.

The dollar was also hurt later by comments by an official of the Japan Automobile Manufacturers Association, who suggested that it should not rise much higher than its current level.

Takeo Tominaga, vice chairman of the association, said at a press luncheon that an ideal range for the dollar was between 110 yen and 120 yen.

A strong dollar makes Japan’s exports cheaper and thus more competitive abroad, but Japanese officials are worried that rising exports will rekindle trade friction with the United States.

The yield on the No. 182 10-year Japanese government bond fell to 2.110 percent from 2.125 percent, driving its price up to 106.17 from 106.06 late Wednesday.